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City Hall - 3800 Laverne Avenue North - Lake Elmo, Minnesota 55042 (651) 747-3900 <br />2022 Budget Update <br />City Hall - 3800 Laverne Avenue North - Lake Elmo, Minnesota 55042 (651) 747-39003880 Laverne Avenue North - Lake Elmo, MN 55042 (651) 747-3900 <br />On September 21, 2021, the City Council adopted a 2022 Preliminary Property Tax Levy of $7,475,037 <br />which is an increase of $2,211,768 or 42% over 2021. The City’s Preliminary Tax Rate was set at 30.47% which is a 28.90% increase over the 2021 tax rate. <br />2022 Preliminary General Fund Budget <br />The operating budget for expenditures for 2022 has an overall increase of $1,184,918. The increase is due to a number of factors. The larger portions of the increase come from increases in the <br />Public Works budget for sealcoating and crack sealing, an increase of 79.65% from prior year budget <br />to catch up on road construction. Further, the City has budgeted for four additional full time staff; two <br />full time firefighters, one Code Enforcement Officer, and an Assistant Public Works Director. Lastly, the <br />City has budgeted for the acquisition of Capital Improvement items for thePublic Works and Fire departments. <br />Excluding the increase in property tax levy noted above, revenues in totals for the 2022 budget re- <br />mained relatively consistent. State Fire Aid and Municipal State Aid (MSA) for road maintenance are <br />based on the current estimates done this year. <br />Current Debt 2021 Debt Levy 2022 Debt Levy <br />GO 2010B 207,338               207,076                <br />GO 2012B 67,313                 65,417                  <br />GO 2014A 205,118               200,394                <br />GO 2015A 12,723                 14,508                  <br />GO 2016A 188,999               193,934                <br />GO 2017A 339,904               344,104                <br />GO 2018A Equip Cert 123,848               126,404                <br />GO 2019A 293,148               295,301                <br />Total Current 1,438,390           1,447,137            <br />New Debt <br />GO 2021A ‐ City Hall/Fire 733,323                <br />GO 2021A ‐ Street Improvement 281,003                <br />Total New 1,014,326            <br />Total 2022 Debt Levy 2,461,463            <br />71% <br />51% <br />Debt Levies <br />Winter 2022 <br />2022 Debt Levy <br />The overall City levy is made up of the General Fund <br />Operating levy and the Debt levies. The table below <br />shows the actual 2021 Debt levy and the proposed <br />2022 Debt levy. <br />The GO 2021A Bonds are estimates since the bond issuance has not yet been finalized. The City expects <br />to close on the bonds on December 7th, 2021.